141 Capital, Inc. Announces Reduction of Outstanding Shares and Current Capitalization
19 1월 2010 - 11:30PM
Business Wire
141 Capital, Inc. (OTCPK: ONCP). 141 Capital, Inc. announced
that management today returned 310,000,000 shares of common stock
held by CEO Errol Stone and Chairman Paul D. Strickland, Jr. to the
treasury. To date management has contributed 620,000,000 shares of
personally held stock as its commitment to increase shareholder
value. As of January 15, 2010 the issued and outstanding common
shares were reduced to 1,072,593,732 through management's
contributions. The number of shares authorized by 141’s Articles of
Incorporation is 5,000,000,000. The issued and outstanding common
shares include 300,685,714 restricted shares issued to Spooz, Inc.
per the Company's technology licensing agreement with Spooz.
Of 10,000,000 shares of authorized Preferred shares, there are
516,020 shares of Series C convertible shares issued and
outstanding (619,224 shares of common stock assuming conversion on
January 15, 2010). There are no shares of Series B Preferred Stock
outstanding. There are 789,859 shares of Series A convertible stock
outstanding of which 98.5% are owned by Company insiders (these
shares represent 1,993,109,775 common share equivalents.) The
Series A Preferred Stock converts to restricted common shares when
converted. Accordingly, the public “float” is 771,901,162.
“We are pleased to make this contribution of 310,000,000 shares.
It represents tangible value to our shareholders as it
substantially reduces the issued and outstanding shares of the
Company’s common stock. We are confident in our ongoing business
developments and believe that our current share price does not
accurately reflect our prospects in both the near and long term.
Our direct contributions are consistent with our active pursuit of
enhanced shareholder value and we hope, demonstrates our commitment
to the company, its shareholders, and prospects of the future,"
said 141 CEO Errol Stone.
About 141 Capital, Inc. (www.141capital.net)
141 Capital, Inc., is a publicly traded company based in
Chicago. Its primary operations involve commodity trading for its
own account. 141 is in the process of registering as an Introducing
Broker with the National Futures Association to enable it to offer
futures products to the general public. To attract customers, 141
will be utilizing TradeTablet and IB’s product line.
141 Capital encourages its shareholders to email any and all
questions and suggestions. We usually respond to questions after
business hours and understand it may take several days to receive a
response. Email: info@141capital.net.
141 Capital (GM) (USOTC:ONCP)
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